Ring Energy Price Target Lowered to $20.00 at Canaccord Genuity (REI)
Equities research analysts at Canaccord Genuity reduced their target price on shares of Ring Energy (AMEX:REI) from $21.00 to $20.00 in a research note issued to investors on Wednesday. Canaccord Genuity’s price objective would indicate a potential upside of 15.61% from the company’s current price.
Separately, analysts at Global Hunter Securities initiated coverage on shares of Ring Energy in a research note on Thursday, July 10th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $19.67.
Ring Energy (AMEX:REI) traded up 0.12% during mid-day trading on Wednesday, hitting $17.30. 52,412 shares of the company’s stock traded hands. Ring Energy has a one year low of $10.55 and a one year high of $20.61. The stock’s 50-day moving average is $17.93 and its 200-day moving average is $17.05. The company has a market cap of $444.8 million and a price-to-earnings ratio of 69.40.
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